How Construction Progress Claims Can Help Builders (and How our Quantity Surveyor’s Approach them)
12 / 08 / 2021
Progress claims are vital to construction projects that are not being paid for as a lump sum as they enable you to gain funds from the financier periodically — this can be whenever a stipulated section on the construction timeline has been completed or simply after a certain amount of time has elapsed. Regardless, qualified quantity surveyor services are the key to comprehensive progress claims construction invoices, let us take a look at why that is and how progress claims can help you.
Streamlined construction projects
Progress claim construction invoices go hand in hand with an effective construction schedule. Prior to commencement, the project is segmented into phases — at the end of each phase, a progress claim is submitted to the financier detailing all the costs involved with the recently finished phase so the funds for the next phase can be released to you.
Whilst a detailed construction plan is essential for all projects, progress claims add that extra layer of strictness — pushing you to follow a more comprehensive approach that accounts for elements that may have been previously unconsidered such as potential issues or precise material lists/finding suppliers in advance. This will ultimately pay off in the end as it mitigates last-minute decisions or problems that may halt construction whilst simultaneously providing a more organised construction project.
Instilled trust from the client
In addition to the progress claim construction invoice being inspected by the client, quantity surveyor and financier, a physical inspection of the site following each phase is required to ensure that the work specified in the invoice translates to the physical work. A qualified quantity surveyor will carry out this inspection; the client may also be present to see how their project is progressing.
This can work to instil confidence and trust in the client regarding you and your work, ultimately contributing to a better relationship which can translate to references and further work down the track. Furthermore, the client may use this opportunity to ask any questions regarding the project, which will also fill them with confidence and potentially put their mind at ease; not only will they see the work you have done, but they will also see that you have the knowledge to back it up.
More efficient financial decisions
Since you will only have access to a specific allocation of funds during each phase, you will have to be more precise with your purchasing of inventory and allotment of labour. This will prove to be a more efficient process since everything is regimented and running to a strict financially guided timeline, which harks back to our first point about a streamlined project.
This is further indicated by the mandatory reviews at the end of each phase as every dollar and where it went must be accounted for in detail. One of our expert quantity surveyors can assist you with ensuring a comprehensive progress claim construction invoice; keeping your overall construction costs in check is essential to producing accurate results throughout, ask us about our construction budgets for a more secure project.
How we approach progress claim
- Before moving forward to the next phase, the preceding one must be assessed by one of our expert quantity surveyors. We can provide comprehensive and professional progress claim construction invoice templates to ensure your submission to the financier is impeccably presented.
- Once you have filled out the invoice, we will inspect it and verify all the costs. This includes an on-site inspection and meeting with you, the builder, to ensure every aspect is reported and to guarantee the most accurate report possible.
- In addition to providing a professional invoice template, we will also create an accurate cash flow report to further outline what has been spent, how much is left and if there are any variations to the contract — this will give the financier a better understanding of the progress so far and what to expect moving forward.
- Our progress claim quantity surveying service is guaranteed to only take a maximum of three days so the impact on the project’s progress is mitigated as much as possible.
Premium quantity surveying services
Section 94 offers complete quantity surveying services Australia-wide; our solutions are guaranteed to be accurate, comprehensive and quick so you can enjoy our trusted service in an efficient timeframe. With over a decade of industry experience, our qualified QS’ will assist you with all your progress claim and construction management services such as providing bank prefunding reports and section 94 reports.